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Page added on June 9, 2020
Oversupply Is a Thing of the Past
Oversupply is a thing of the past as long as OPEC+ compliance stays strong and the oil demand recovery trajectory isn’t radically altered.
That’s according to Rystad Energy, which made the comment in a statement sent to Rigzone on June 8. The company outlined that the last surplus month appears to have been May, when crude and condensate production exceeded demand by about 6.1 million barrels per day (MMbpd). June is now already set for a global production deficit of about 1.5MMbpd, Rystad Energy highlighted.
The deficit is forecasted to reach 4.6MMbpd in July, 4.2MMbpd in August and, after being reduced a little during the remainder of 2020, peak at 5.2MMbpd in January 2021. Although the shortfall will ease after that, Rystad Energy estimates that monthly deficits will remain throughout 2021.
“We believe OPEC+ is attempting to create a mini-bull-cycle by quickly tightening the prompt market, helping depressed prices and creating a supply environment that will facilitate a rapid relief of oil storages, as deficits will trigger large stock draws,” Rystad Energy’s Head of Oil Markets Bjornar Tonhaugen, said in a statement sent to Rigzone on Monday.
“However, if the oil price continues its steady ascension, this will spur reactivation of parts of the curtailed U.S. oil production. Also, if frac crews end their holidays early, U.S. volumes may be coming back more quickly than OPEC+ expects, bridging part of the deficit,” he added in the statement.
Last month, Tonhaugen outlined that the oil market had escaped a collapse following a 16MMbpd oversupply during April.
Rystad Energy describes itself as an independent energy research and business intelligence company which provides data, analytics and consultancy services to clients exposed to the energy industry across the globe. The business is headquartered in Oslo, Norway, and has several other locations around the world.
19 Comments on "Oversupply Is a Thing of the Past"
makati1 on Tue, 9th Jun 2020 5:50 pm
The Saudi/Russian strategy is still to destroy the US fraking industry. They are succeeding. Soon Amerika will not be exporting any oil and will be a net importer again…IF the US economy revives. Some doubt there.
Davy on Tue, 9th Jun 2020 6:19 pm
“The Saudi/Russian strategy is still to destroy the US fraking industry. They are succeeding. Soon Amerika will not be exporting any oil and will be a net importer again…IF the US economy revives. Some doubt there.”
Please what do you know about oil and fracking? Fracking can ramp up in no time, Wak.
makati1 on Tue, 9th Jun 2020 6:40 pm
“Fracking can ramp up in no time…” No it cannot. It is dead but not buried yet. There is no way fraking will EVER be profitable. Never. NO profit…no fraking. But deny all you want Davy. It only hurts you.
The US is now a 3rd world banana republic with a gestapo police state and a demented dictatorship. The world sees the hypocrisy and lies. Too late to ever go back to a 2019 lifestyle Davy. Suck it up and adjust.
GO TRUMP! Make Amerika Suck! LMAO!
Davy on Tue, 9th Jun 2020 6:46 pm
“Fracking can ramp up in no time…” No it cannot. It is dead but not buried yet. There is no way fraking will EVER be profitable. Never. NO profit…no fraking. But deny all you want Davy. It only hurts you.”
Bullshit, Wak, all it takes is prices to go up. It can come back quicker than any other source. You are too emotional, wak.
“The US is now a 3rd world banana republic with a gestapo police state and a demented dictatorship. The world sees the hypocrisy and lies. Too late to ever go back to a 2019 lifestyle Davy. Suck it up and adjust.GO TRUMP! Make Amerika Suck! LMAO!”
Wak, you are too old to be a cheerleader but that is what you are doing. You sound stupid like a bumbling biden. You sound a lot like you two buddies annoymouse and zero juan. The three of you are just emotional wrecks becuase the US is standing and you keep seeing a fall. Too bad in your case, you may stroke out one of these days since you are pushing 80.
makati1 on Tue, 9th Jun 2020 6:50 pm
Davy, do you get your rocks off lying to, and bullying, those who are your superiors? I think so. Were you beaten as a boy in the orphanage? You definitely have a serious mental problem, but it is fun poking reality sticks at you as you respond like Pavlov’s dog. Woof!
Do you remember that analogy? It is still valid. LOL.
Davy on Tue, 9th Jun 2020 7:12 pm
Translation: wak is wounded. Wak, give it a rest if you can’t win the argument don’t make it look worse with emotional nonsense. You really should lay off the booze. Are you still drunk from last night ?
makati1 on Tue, 9th Jun 2020 8:00 pm
Davy, you are really delusional if you think ANYTHING you post here is going to affect me in any way. You are a nothing. A yippy dog to be poked and tormented every chance I get. You are nothing but a goat fucker that has no life or family. A liar out and out.
You cannot face the truth so you try to bully others to make yourself feel good. Try drugs. They are more effective I am told.
I ALWAYS win an argument because I post truth not lies. YOU ALWAYS lose because you have no defense for your delusions. Get help. Woof!
Davy on Tue, 9th Jun 2020 8:08 pm
Wak, your comment tells otherwise. The fact that you start your day attacking me means you are affected. I remember when you tried so hard to ignore me. That worked out for ya. LMFAO
REAL Green on Tue, 9th Jun 2020 8:15 pm
Davy. Can we PLEASE see the docter. We need help REAL REAL REAL BAD like.
REAL Green on Tue, 9th Jun 2020 8:48 pm
Mommy says it’s time to put on are pijamas and get reddy fer bed Davy. Us widdle boys should be in bed no later then ten oh clock. Or else we get REAL cranky.
makati1 on Tue, 9th Jun 2020 8:52 pm
Suggested reading for the uninformed:
https://sustainabledevelopment.un.org/post2015/transformingourworld
https://sustainabledevelopment.un.org/rio20
https://sustainabledevelopment.un.org/hlpf
Knowing where you are being driven is the first step in avoiding the destination.
whoa supremacist muzzies jerk i know some wrong when a pretty little white girl ran to a black man arms dead giveaway deeeeeeeeeeeeeeeeeeeeed giveaway on Tue, 9th Jun 2020 8:54 pm
this is my master treaties. i don’t waste time on this forum. it’s lame. this treaties is about love for supremacist muzzies
muzzie bribe went with isis to make babies and now want to go back. what the world going to. this is ok but supertard big muzzie beard SAWS swt pbuh is banned from UK and harrassed by AA.
muzzie curse kufar in vice documentary about ramadan but subtitle is excluded for the love of supremacist muzzie. this happens in deerfield michigan. muzzie said it’s peaceful but at the end acted as if typical soft and cudly muzzies do. very ironic
the knights of columbus were real head breakers true guineas 70000 years after an irishman could not get a job we got the presidency may he rest in peace. the kennedies were muzie lovers so (((supremetard))) didnt’ protect them and they die slowly.
but now the irishman is back and whitey supertard president michael flynn (the honest one) is going to love muzzies and amputate them all. love can be in many forms and bringing muzzies closer to muhamad the pedifler to get virgins and boys is a form of ultimate love.
one has to wonder why little tiny small big brother joe never mentioned whitey supertard president michael flynn and why the investigation wasn’t about muzzies but that’s the goal, destroy muzzie lovers by going after them in some other ways – like love for putin
and now we have new saints. saint jorge and saint amauid “muzzie” abery. the protests is full of muzzies doing security and we have our first muzzie saint.
cui bono? one wonder the extend of muzzie infiltration and why did little small tiny big brother joe “reverted” to muzzie like john brennen
now it is ramadan and very peaceful. so far 72 kabooms and 262 went to see muhadmad the pedifler. after 15 days, 15 more to go.
muzzies get extra credits during this time so when they go for your neck, muzzie only being friendly. this actual advice is not mine though
and now the muzzielove virus with corona. corona is a (((supremetard))) beer. pay close attention, there’s a cross in the logo. so why muzzies destroy it? we need to go back to whitey supertard scientfic supremacist “thunderf00t” who should be amputated for muzzie lovin and spreading scientific supremacism. when this whitey supertard imposed self quarantine i said it smellz. that was many moons ago and i was first as usual to smell BS 20000 light years away.
then we have whitey supertard “royal” instituiotn who ran model predicting muzzielove virus. then admited it wrong and went to boink married gf and lost job.
ask yourslef if someone speak exclusively high british english, chances are they love muzzies? of course they love muzies and that’s why i’m pushing low english. it’s more trustworthy. muzzies benefits in all this.
churches closed but muzzie mosque open. and all the rapes in UK was “by all ethics” no mention of muzzies which brexit about to amputate.
supertard big muzzie beard SAWS pbuh swt reported muzzies in ger comprise of 40% of jizya payment to the tune of 4 billion euros per month. with that money they could go REAL GREEN or FAKE GREEN, it doesn’t matter that would’d been prosperious without the rapey rapey and stabby muzzies. The scale of jizya is incredible. it’s all out in the open if you just listen to the UK muzzie andy choudary.
muzzie sabotage airliner and got loved 1000x in the form of reporting of “union dispute”. supertard big muzzie beard SAWS pbuh swtreported it’s actually jihad.
Then in astralia muzzie with big grin and smug looking face with a hat and meat grinder practically begged to be amputated and put on muzzie hamster wheel. cops love him 100000x more and are puzzled why he did this. i’m scratching my head too which has thinning hair
Muzzie in NZ allah acbar and went after cop with axe. Cops loved muzzie 10000x love conquer all. No tweet AOC SAWS pbuh swt , not siri Lanka, not when muzzie shot 6 cops on philadelphia. 25 billion tweet on Christchurch though
then there we deceptions of deep green, real green, deep deep green, fake fake green, and all the permutations of green. when AOC SAWS pbuh swt – (ZOMG i’m amazed at the technology in a sink food grinder) failed, the greta SAWS pbuh swt deception kicked in. I belived everything even the fantastic flying goat story.
for many years, centuries, million, quadrillion of years since (((supremetard))) SAWS pbuh swt created heaven and earth and before supertards SAWS pbuh swt big muzzie beard and glenn roberts put up web sites, i warned tards and supertards about muzzies.
i made no progress sort of like banging head against concrete, concrete wins everytime
but then i “reverted” to a supremacist muzzie jerk and I’m the best of humanity allah has created. i wear a muzzie dress and i pee sitting down holding up the bathroom line. this made supertard SAWS pbuh swt have bladder infection but the love for muzzies only intensified.
and now i have superpower, big goat SAWS pbuh swt is feeling intense heat. all stops are pulled it seems – even Robert Inget the controlled libtard opposition is deployed to censor me. but uppertard SAWS pbuh swt is not going to destroy free speech for someones love of muzzie. supertard SIS SAWS pbuh swt dropped the appeal and that’s final. it’s now as good as case law. supertard SIS SAWS pbuh is back being occupied with his bunker and learjet and auto keltecs and he said absolutely do not bother him. so it’s set in stone that uppertard SAWS swt pbuh is not going to modify this forum
makati1 on Tue, 9th Jun 2020 8:57 pm
Davy, I also start my day with a cup of Nescafe coffee with cream. Does that make me a coffee addict? It is also the only cup of the day. I visit many other sites before PO and you are NOT beat on everyday, unless you post something stupid. But then all your posts are stupid brainwashing, not facts. I enjoy poking you and making you respond like Pavlov’s dog. Woof! LMAO!
makati1 on Tue, 9th Jun 2020 8:59 pm
whoa, what a lie! “i don’t waste time on this forum” and then you go on to post a word salad no one will read.
Davy on Tue, 9th Jun 2020 9:00 pm
Mak, stop the naked links. Are you too slow to maybe give some content as if you read them too? Links are cheap. Content shows understanding. Be smart not cheap.
makako on Tue, 9th Jun 2020 9:14 pm
Davy on Tue, 9th Jun 2020 9:00 pm
Mak, stop the naked links. Are you too slow to maybe give some content as if you read them too? Links are cheap. Content shows understanding. Be smart not cheap.
thanks supertard, for this i hereby appoint you saint. your title is “the lover” (of supremacist muzzies)
you’re known as supertard president saint Davy
congratulations on your new appointment. the appointment does not confer any special rights or privileges. Supertard is highest honor with actual rights and privileges
Davy on Tue, 9th Jun 2020 9:45 pm
Mak, you need to take a page from my comicbook. I hide all my stupid ‘sources’, well source, actually, behind tinyurls. Sure, they all go to one place, ZEROHEDGE, but that doesnt matter. Has it fooled anyone? Sure it has. I tell myself that every day. That is because I am smart and clever and you are all dumb. Mostly you though. You are the dumbest of the lot.
So hide your links behind tinyurls like a pro. And make sure they all go to ZEROHEDGE, and not your stupid nutter site, GloBULL research.
Get it now old bat?
JuanP on Tue, 9th Jun 2020 10:18 pm
It wouldn’t surprise me at all if Davy is a victim of child abuse at his parents’ hands. Like father like son! Bullies raise bullies! Also, his almost infinite mental health problems probably are partly hereditary, too. He was born fucked up and then got fucked up even more by his white trash parents in the trailer he was raised in. What a fucking loser!
REAlL Green on Wed, 10th Jun 2020 1:03 am
So true JuanP. So true. Davy needs to see the docter.REAL Bad like.